They also have two nights a month where they play the Cash Flow Game - I have not done it but it looks fun.

b) buy them lunch and absorb everything they will tell you on how to play the game.c) find a property that will give you equity at closing and positive cash flow from day 1.d) screen tenants aggressivelye) be a good landlord by doing what you say you will do when you say you will do it.

I get distracted by family and the media.I need to be reminded of my mission and why I play the REI Game to WIN, not to just dabble and waste time.So, I get my coffee, check my email, prioritize my urgent tasks, THENI read this:http://biggerpockets.com/blogs/3/blog_posts/tagged?

From that point, you probably want to start lower as most sellers will want to play the negotiating back and forth game, so better to start lower and do not go over your set max price.Also, identify the average vacancy rate over the last 10 years+ and include that in your expenses.

Just play the numbers.

I can imagine that would be really tough to find in most major metros. some condos dtown chicago go for 950 a month for a studio and I'm pretty sure I can't find a seller that will sell it to me for 95k.But at the same time, just because I'm not in an area where SFH cost 50k, and you can easily apply that rental rule of 100 to, doesn't mean I shouldn't be allowed to play the RE game.There has to be a model in which people from big cities run their analysis through that has to differ with people from smaller cities.

For instance, Hispanic women play the more dominant role in decisions that relate to the home.

Since you live there she won't be able to play the "he doesn't live here card" since you know better.

People 1-2 years ago just dove headfirst into it without doing much research, they were just hoping to play the appreciation game.

Anyway at the last minute they agree to sell...lad de da....Next thing they have a lawyer saying that the we DISTRESSED......They didn't know what was going on...WE stole the equity......Alot of ******** to say the least, but they play the system....JUST BE CAREFUL....